Corporate Updates

the Ministry of Mines has released a notification in respect of “MINES AND MINERALS (DEVELOPMENT AND REGULATIONS) ACT, 1957”. These Rules may be called as the MINES AND MINERALS (CONTRIBUTION TO DISTRICT FOUNDATION) RULES, 2015. These rules shall be deemed to have come into force on the 12th day of January, 2015.

Amount of contribution to be made to District Mineral Foundation:

Every holder of a mining lease or a prospecting licence-cum-mining lease, in addition to the royalty, pay to the District Mineral Foundation of the district in which the mining operations are carried on, an amount at the rate of:

(a) Ten per cent of the royalty paid in terms of the Second Schedule to the Mines and Minerals (Development and Regulation) Act, 1957 in respect of mining leases or, as the case may be, prospecting licence-cum-mining lease granted on or after 12th January, 2015 and

(b) Thirty per cent of the royalty paid in terms of the Second Schedule to the said Act in respect of mining leases granted before 12th January, 2015.

SUPREME COURT

The Supreme Court sought responses from Tamil Nadu Government and the Registrar of the Madras High Court on a plea seeking pensionary benefits for former Fast Track Court (FTC) judges, appointed on ad-hoc basis like other retired judicial officers.

The appeal has been filed against the February 14 order of the Madras High Court which held that the FTC judges were appointed on contractual basis and cannot claim retiral benefits like other additional district and district judges who were in regular appointment.

Assailing the order, the plea said though FTC judges were appointed on ad-hoc basis, they cannot be said to be contractual employees.

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